A Business at a Glance
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AMETEK INC/
AME
$56.0B
Mkt Cap
$241.97
+0.34%
AMETEK INC/ (AME) has a current P/E ratio of 37.8, compared to its historical median P/E of 27.9. The stock is currently considered Expensive based on its historical valuation range.
AMETEK INC/ (AME) has a 5-year average return on invested capital (ROIC) of 12.6%. This indicates solid capital allocation.
AMETEK INC/ (AME) has a market capitalization of $55.6B. It is classified as a large-cap stock.
Yes, AMETEK INC/ (AME) pays a dividend with a trailing twelve-month yield of 0.52%. The company also returns capital through share buybacks, with a buyback yield of 0.80%.
Based on historical P/E analysis, AMETEK INC/ (AME) appears expensive. The current P/E of 37.8 is 35% above its historical median of 27.9. The estimated fair value CAGR (P/E method) is 10.0%.
AMETEK INC/ (AME) operates in the Industrial Instruments For Measurement, Display, And Control industry, within the Technology sector.
AMETEK INC/ (AME) reported annual revenue of $7.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices operating through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced analytical, test, and measurement instruments for process, power, industrial, aerospace, and medical markets, with 52% of sales to customers outside the United States; EMG supplies precision motion control solutions, highly engineered medical components, thermal management systems, specialty metals, and electrical interconnects primarily to aerospace and defense, medical, and automation end-markets. The company operates an asset-light business model generating strong cash flow, with manufacturing facilities in China, Czechia, Malaysia, Mexico, and Serbia that provide customer proximity and localization opportunities. AMETEK's competitive advantages include strong market share in niche segments, technological differentiation through continuous R&D investment and Design for Six Sigma methodologies, lean and flexible manufacturing operations, and an experienced management team with deep industry expertise. The company pursues growth through its integrated Growth Model combining Operational Excellence, Strategic Acquisitions (15 acquisitions since 2021 with annualized sales of approximately $1.8 billion), Global and Market Expansion, and New Product Development, with capital deployment focused primarily on value-enhancing acquisitions and consistent dividend increases.
【Strong defense and infrastructure demand】 Management expects continued momentum driven by defense budget growth from modernization and geopolitical conflicts, with particular strength in aerospace and defense platforms, power grid infrastructure, and semiconductor capital equipment markets. The company is investing an incremental $100 million in 2026 to support growth initiatives, primarily in research, development, engineering, and sales and marketing, with a track record of strong returns on these investments. AMETEK expects to offset inflation and tariffs through pricing actions while maintaining disciplined operations and execution across its differentiated product portfolio. The company maintains an active acquisition pipeline with a strong balance sheet positioned to deploy capital on strategic opportunities, and management remains prudent with guidance while confident in navigating changing macroeconomic conditions.
| Metric | Target | Period |
|---|---|---|
| Diluted earnings per share | $7.94 - $8.14 | FY2026 |
| Overall sales growth | high single digits | FY2026 |
| Organic sales growth | mid-single digits | FY2026 |
| Capital expenditures | approximately $160 million | FY2026 |
| Free cash flow conversion | approximately 110%-115% of net income | FY2026 |
| Depreciation and amortization | approximately $430 million | FY2026 |
| Process segment organic sales growth | low to mid-single digits | FY2026 |
| Aerospace and defense organic sales growth | mid-single digits | FY2026 |
| Automation and engineering solutions organic sales growth | mid-single digits | FY2026 |
Diluted earnings per share (FY2026): “With the strong results from the first quarter, diluted earnings per share for the year are now expected to be in the range of $7.94 - $8.14, up 7%-10% compared to last year's results.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 7.6B | 7.4B | 6.9B | 6.6B | 6.2B | 5.5B |
| Net Income | 1.5B | 1.5B | 1.4B | 1.3B | 1.2B | 990M |
| EPS | $6.63 | $6.40 | $5.93 | $5.67 | $5.01 | $4.25 |
| Free Cash Flow | 1.7B | 1.7B | 1.7B | 1.6B | 1.0B | 1.0B |
| ROIC | 12.9% | 13.2% | 12.7% | 12.6% | 12.9% | 11.7% |
| Gross Margin | - | 36.0% | 35.7% | 36.1% | 34.9% | 34.5% |
| Debt/Equity | 0.19 | 0.29 | 0.15 | 0.51 | 0.33 | 0.42 |
| Dividends/Share | $1.27 | $1.23 | $1.12 | $0.99 | $0.87 | $0.20 |
| Operating Income | 2.0B | 1.9B | 1.8B | 1.7B | 1.5B | 1.3B |
| Operating Margin | 25.9% | 25.8% | 25.6% | 25.9% | 24.4% | 23.6% |
| ROE | 14.0% | 14.6% | 15.0% | 16.2% | 16.2% | 14.4% |
| Shares Outstanding | 230M | 231M | 232M | 232M | 231M | 233M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 4.0B | 4.0B | 3.8B | 4.3B | 4.8B | 5.2B | 4.5B | 5.5B | 6.2B | 6.6B | 6.9B | 7.4B | 7.6B |
| Gross Margin | 33.8% | 34.1% | 32.7% | 33.5% | 34.2% | 34.7% | 34.0% | 34.5% | 34.9% | 36.1% | 35.7% | 36.0% | N/A |
| R&D | 119M | 116M | 112M | 130M | 141M | 162M | 159M | 194M | 199M | 221M | 237M | 236M | 236M |
| SG&A | 463M | 449M | 464M | 535M | 584M | 610M | 516M | 604M | 645M | 677M | 697M | 757M | 790M |
| EBIT | 899M | 908M | 791M | 904M | 1.1B | 1.2B | 1.0B | 1.3B | 1.5B | 1.7B | 1.8B | 1.9B | 2.0B |
| Op. Margin | 22.3% | 22.8% | 20.6% | 21.0% | 22.2% | 22.8% | 22.6% | 23.6% | 24.4% | 25.9% | 25.6% | 25.8% | 25.9% |
| Net Income | 584M | 591M | 512M | 681M | 778M | 861M | 872M | 990M | 1.2B | 1.3B | 1.4B | 1.5B | 1.5B |
| Net Margin | 14.5% | 14.9% | 13.3% | 15.8% | 16.1% | 16.7% | 19.2% | 17.9% | 18.9% | 19.9% | 19.8% | 20.0% | 20.1% |
| Non-Recurring | 0 | 37M | 26M | 0 | 0 | 0 | 44M | 0 | 3.6M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 15.2% | 14.1% | 12.2% | 15.3% | 13.0% | 12.5% | 13.7% | 11.7% | 12.9% | 12.6% | 12.7% | 13.2% | 12.9% |
| ROE | 18.3% | 18.2% | 15.7% | 18.7% | 18.3% | 16.8% | 14.7% | 14.4% | 16.2% | 16.2% | 15.0% | 14.6% | 14.0% |
| ROA | 9.5% | 9.0% | 7.4% | 9.1% | 9.0% | 8.7% | 8.4% | 8.3% | 9.5% | 9.6% | 9.3% | 9.6% | 9.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 726M | 673M | 757M | 833M | 926M | 1.1B | 1.3B | 1.2B | 1.1B | 1.7B | 1.8B | 1.8B | 1.8B |
| Free Cash Flow | 655M | 603M | 694M | 758M | 843M | 1.0B | 1.2B | 1.0B | 1.0B | 1.6B | 1.7B | 1.7B | 1.7B |
| Owner Earnings | 568M | 499M | 555M | 625M | 699M | 840M | 984M | 822M | 783M | 1.4B | 639M | 1.3B | 511M |
| CapEx | 71M | 69M | 63M | 75M | 82M | 102M | 74M | 111M | 139M | 136M | 127M | 130M | 133M |
| Maint. CapEx | 139M | 149M | 180M | 183M | 199M | 234M | 255M | 292M | 319M | 338M | 1.1B | 423M | 1.3B |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 139M | 149M | 180M | 183M | 199M | 234M | 255M | 292M | 319M | 338M | 1.1B | 423M | 1.3B |
| CapEx/OCF | 9.8% | 10.3% | 8.4% | 9.0% | 8.9% | 9.2% | 5.8% | 9.5% | 12.1% | 7.9% | 6.9% | 7.2% | 7.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 81M | 86M | 83M | 83M | 129M | 127M | 165M | 185M | 202M | 230M | 259M | 285M | 292M |
| Dividend Yield | 0.7% | 0.7% | 0.8% | 0.6% | 0.8% | 0.7% | 0.8% | 0.6% | 0.7% | 0.7% | 0.6% | 0.7% | 0.5% |
| Share Buybacks | 245M | 435M | 336M | 6.9M | 368M | 12M | 4.7M | 15M | 333M | 7.8M | 212M | 434M | 444M |
| Buyback Yield | 2.0% | 3.6% | 3.1% | 0.0% | 2.5% | 0.1% | 0.0% | 0.0% | 1.1% | 0.0% | 0.5% | 0.9% | 0.8% |
| Stock-Based Comp | 20M | 24M | 22M | 25M | 27M | 40M | 42M | 46M | 47M | 46M | 48M | 48M | 48M |
| Debt Repayment | 914K | 182M | 49M | 270M | 305M | 100M | 103M | 60M | 0 | 0 | 300M | 515M | 515M |
| Balance Sheet | |||||||||||||
| Net Debt | 1.2B | 1.8B | 1.3B | 1.5B | 2.3B | 2.5B | 120M | 2.2B | 2.1B | 4.0B | 1.1B | 2.6B | 1.6B |
| Cash & Equiv. | 378M | 381M | 717M | 646M | 354M | 393M | 1.2B | 347M | 345M | 410M | 374M | 458M | 481M |
| Long-Term Debt | 1.4B | 1.6B | 2.1B | 1.9B | 2.3B | 2.3B | 2.3B | 2.2B | 2.2B | 1.9B | 1.4B | 1.1B | 1.1B |
| Debt/Equity | 0.48 | 0.67 | 0.62 | 0.54 | 0.71 | 0.64 | 0.43 | 0.42 | 0.33 | 0.51 | 0.15 | 0.29 | 0.19 |
| Interest Coverage | 11.2 | 9.9 | 8.4 | 9.2 | 13.1 | 13.3 | 11.9 | 16.3 | 18.0 | 20.9 | 15.8 | 23.5 | 200.7 |
| Equity | 3.2B | 3.3B | 3.3B | 4.0B | 4.2B | 5.1B | 5.9B | 6.9B | 7.5B | 8.7B | 9.7B | 10.6B | 10.9B |
| Total Assets | 6.4B | 6.7B | 7.1B | 7.8B | 8.7B | 9.8B | 10.4B | 11.9B | 12.4B | 15.0B | 14.6B | 16.1B | 16.3B |
| Total Liabilities | 3.2B | 3.4B | 3.8B | 3.8B | 4.4B | 4.7B | 4.4B | 5.0B | 5.0B | 6.3B | 5.0B | 5.4B | 5.4B |
| Intangibles | 1.6B | 1.7B | 1.7B | 2.0B | 2.4B | 2.8B | 2.6B | 3.4B | 3.3B | 4.2B | 3.9B | 4.1B | 4.2B |
| Retained Earnings | 3.5B | 4.0B | 4.4B | 5.0B | 5.7B | 6.4B | 7.1B | 7.9B | 8.9B | 9.9B | 11.1B | 12.3B | 12.6B |
| Working Capital | 642M | 595M | 1.0B | 796M | 577M | 600M | 1.4B | 565M | 964M | -58M | 504M | 177M | 381M |
| Current Assets | 1.6B | 1.6B | 1.9B | 1.9B | 1.8B | 2.0B | 2.5B | 2.1B | 2.5B | 2.8B | 2.6B | 3.0B | 3.1B |
| Current Liabilities | 936M | 1.0B | 924M | 1.1B | 1.3B | 1.4B | 1.1B | 1.6B | 1.6B | 2.9B | 2.1B | 2.8B | 2.8B |
| Per Share Data | |||||||||||||
| EPS | 2.37 | 2.45 | 2.19 | 2.94 | 3.34 | 3.75 | 3.77 | 4.25 | 5.01 | 5.67 | 5.93 | 6.40 | 6.63 |
| Owner EPS | 2.30 | 2.07 | 2.37 | 2.70 | 3.00 | 3.66 | 4.25 | 3.53 | 3.38 | 5.84 | 2.76 | 5.76 | 2.22 |
| Book Value | 13.14 | 13.50 | 13.92 | 17.38 | 18.21 | 22.27 | 25.71 | 29.50 | 32.30 | 37.69 | 41.61 | 45.96 | 47.51 |
| Cash Flow/Share | 2.94 | 2.79 | 3.24 | 3.59 | 3.97 | 4.85 | 5.54 | 4.98 | 4.97 | 7.49 | 7.88 | 7.79 | 12.20 |
| Dividends/Share | 0.33 | 0.36 | 0.36 | 0.36 | 0.56 | 0.18 | 0.18 | 0.20 | 0.87 | 0.99 | 1.12 | 1.23 | 1.27 |
| Shares Out. | 246.6M | 241.2M | 233.9M | 231.8M | 232.9M | 229.7M | 231.4M | 233.0M | 231.4M | 231.6M | 232.1M | 231.3M | 229.8M |
| Valuation | |||||||||||||
| P/E Ratio | 21.2 | 20.6 | 21.0 | 23.5 | 19.1 | 25.6 | 30.7 | 33.5 | 27.1 | 28.7 | 30.6 | 32.6 | 36.5 |
| P/FCF | 18.9 | 20.2 | 15.5 | 21.1 | 17.6 | 21.8 | 22.2 | 31.6 | 31.1 | 23.6 | 24.7 | 28.8 | 32.7 |
| EV/EBIT | 15.0 | 15.4 | 15.2 | 19.4 | 16.1 | 20.9 | 26.9 | 27.2 | 22.2 | 24.3 | 24.7 | 26.6 | 29.0 |
| Price/Book | 3.8 | 3.7 | 3.3 | 4.0 | 3.5 | 4.3 | 4.5 | 4.8 | 4.2 | 4.3 | 4.4 | 4.5 | 5.1 |
| Price/Sales | 2.9 | 3.0 | 2.7 | 3.1 | 3.4 | 3.7 | 4.7 | 5.3 | 4.7 | 5.1 | 5.7 | 5.7 | 7.3 |
| FCF Yield | 5.3% | 5.0% | 6.5% | 4.7% | 5.7% | 4.6% | 4.5% | 3.2% | 3.2% | 4.2% | 4.0% | 3.5% | 3.1% |
| Market Cap | 12.4B | 12.2B | 10.7B | 16.0B | 14.8B | 22.1B | 26.8B | 33.2B | 31.4B | 37.7B | 42.1B | 48.2B | 55.6B |
| Avg. Price | 47.87 | 49.75 | 44.79 | 57.61 | 70.88 | 82.36 | 92.26 | 127.34 | 124.29 | 146.61 | 171.67 | 182.22 | 241.97 |
| Year-End Price | 50.13 | 50.43 | 45.92 | 69.04 | 63.69 | 96.01 | 115.92 | 142.53 | 135.66 | 162.99 | 181.23 | 208.45 | 241.97 |
AMETEK INC/ passes 4 of 9 quality checks, suggesting mixed fundamentals.
AMETEK INC/ trades at 37.8x trailing earnings, compared to its 15-year median P/E of 27.9x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 33.1x vs a median of 22.9x. The company's 5-year average ROIC is 12.6% with a gross margin of 35.4%. Total shareholder yield (dividends + buybacks) is 1.3%. At current prices, the estimated annualized return to fair value is +9.5%.
AMETEK INC/ (AME) has a net profit margin of 20.0%. This is a healthy margin.
AMETEK INC/ (AME) generated $1.7 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AMETEK INC/ (AME) has a debt-to-equity ratio of 0.29. This indicates a conservatively financed balance sheet.
AMETEK INC/ (AME) reported earnings per share (EPS) of $6.40 in its most recent fiscal year.
AMETEK INC/ (AME) has a return on equity (ROE) of 14.6%. This indicates moderate shareholder returns.
AMETEK INC/ (AME) has a 5-year average gross margin of 35.4%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for AMETEK INC/ (AME), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AMETEK INC/ (AME) has a book value per share of $45.96, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects continued momentum driven by defense budget growth from modernization and geopolitical conflicts, with particular strength in aerospace and defense platforms, power grid infrastructure, and semiconductor capital equipment markets. The company is investing an incremental $100 million in 2026 to support growth initiatives, primarily in research, development, engineering, and sales and marketing, with a track record of strong returns on these investments. AMETEK expects to offset inflation and tariffs through pricing actions while maintaining disciplined operations and execution across its differentiated product portfolio. The company maintains an active acquisition pipeline with a strong balance sheet positioned to deploy capital on strategic opportunities, and management remains prudent with guidance while confident in navigating changing macroeconomic conditions.
Based on recent SEC filings and earnings calls, AMETEK INC/ (AME) has provided the following forward guidance: Diluted earnings per share: $7.94 - $8.14 (FY2026); Overall sales growth: high single digits (FY2026); Organic sales growth: mid-single digits (FY2026); Capital expenditures: approximately $160 million (FY2026); Free cash flow conversion: approximately 110%-115% of net income (FY2026), plus 4 additional metrics.
Overall sales growth (FY2026): “For 2026, we now expect overall sales to be up high single digits on a percentage basis, with organic sales now expected to increase mid-single digits versus the prior year.”
Organic sales growth (FY2026): “For 2026, we now expect overall sales to be up high single digits on a percentage basis, with organic sales now expected to increase mid-single digits versus the prior year.”
Capital expenditures (FY2026): “For the full year, we expect capital expenditures to be approximately $160 million, or about 2% of sales.”
Free cash flow conversion (FY2026): “For 2026, we continue to expect free cash flow conversion to be approximately 110%-115% of net income.”
Depreciation and amortization (FY2026): “For the full year, we expect depreciation and amortization to be approximately $430 million, including after-tax acquisition-related intangible amortization of approximately $210 million, or $0.91 per diluted share.”
Process segment organic sales growth (FY2026): “Now for the full year 2026, we're increasing our guide for process. We now expect organic sales for process segment to be up low to mid-single digits, so increasing it from low to low to mid.”
Aerospace and defense organic sales growth (FY2026): “Looking to 2026, we continue to expect organic sales to be up mid-single digits for that sub-segment.”
No recent press releases.